ONE Gas (NYSE:OGS) had its price objective reduced by analysts at Morgan Stanley from $75.00 to $74.00 in a research note issued to investors on Tuesday. The brokerage presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential downside of 10.90% from the stock’s previous close.
A number of other research analysts have also commented on OGS. Bank of America boosted their price target on shares of ONE Gas from $68.00 to $74.00 and gave the company an “underperform” rating in a research report on Monday, October 29th. UBS Group set a $77.00 price target on shares of ONE Gas and gave the company a “sell” rating in a research report on Tuesday, October 30th. Finally, Zacks Investment Research restated a “hold” rating on shares of ONE Gas in a research report on Monday, December 31st. Four research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $76.67.
ONE Gas stock traded down $0.40 during mid-day trading on Tuesday, reaching $83.05. The company’s stock had a trading volume of 914 shares, compared to its average volume of 259,932. ONE Gas has a 12-month low of $62.20 and a 12-month high of $87.75. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 4.20 and a beta of 0.35. The company has a current ratio of 0.45, a quick ratio of 0.30 and a debt-to-equity ratio of 0.44.
Several institutional investors and hedge funds have recently added to or reduced their stakes in OGS. Quantamental Technologies LLC purchased a new position in ONE Gas in the fourth quarter worth $127,000. Heritage Trust Co purchased a new position in ONE Gas in the first quarter worth $111,000. First Command Bank purchased a new position in ONE Gas in the fourth quarter worth $109,000. Acadian Asset Management LLC purchased a new position in ONE Gas in the second quarter worth $142,000. Finally, Meeder Asset Management Inc. grew its position in ONE Gas by 385.6% in the first quarter. Meeder Asset Management Inc. now owns 1,918 shares of the utilities provider’s stock worth $127,000 after acquiring an additional 1,523 shares in the last quarter. Hedge funds and other institutional investors own 79.00% of the company’s stock.
About ONE Gas
ONE Gas, Inc operates as a regulated natural gas distribution utility company in the United States. The company operates through three divisions: Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. It serves residential, commercial, and industrial and transportation customers, as well as provides natural gas distribution services to wholesale and public authority customers.
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